HomeAtlanta NewsAtlanta schedules public hearings on decision to forgo statewide homestead exemption

Atlanta schedules public hearings on decision to forgo statewide homestead exemption

Atlanta, Georgia – In a significant move affecting property taxes, the City of Atlanta has decided not to participate in the statewide homestead exemption program proposed by Georgia House Bill 581 (HB 581). Instead, Atlanta will keep implementing its own tax relief policies designed specifically to satisfy the particular requirements of the city.

Under HB 581, the statewide project is meant to provide consistent tax reduction across Georgia. Atlanta officials have decided, however, that following their current Base Freeze (floating) exemption offers a more targeted approach to property tax reduction within the city. Established by HB 820 in 2019 and then passed by Atlanta voters, this exemption caps the yearly rise in taxable property assessments at 2.6%.

Several elements, notably the fit and efficiency of Atlanta’s current system in controlling property tax increases, affected the decision to choose to opt out of the HB 551 program. Since 2019, the City of Atlanta Base Freeze (Floating) Exemption has been in place and provides focused relief by caps yearly taxable increases at no more than 2.6% above the lowest base year value recorded.

The City of Atlanta has decided not to participate in the statewide homestead exemption program proposed by Georgia House Bill 581
Credit: Unsplash

Atlanta’s Chief Financial Officer, Mohamed Balla, underlined how dedicated the city is to specific tax solutions.

“HB 581’s intent to provide statewide relief is commendable, but Atlanta’s diverse communities require more nuanced and equitable policies. By opting out, we maintain a framework that directly benefits our residents while supporting the city’s growth and prosperity,” Balla said in a news release by the city.

The City of Atlanta has set various public hearings in order to promote openness and public involvement. These meetings are meant to address any community issues and go over the ramifications of choosing to opt out of HB 581. Residents are encouraged to participate and provide their feedback.

The scheduled public hearings will be held at the Marvin S. Arrington, Sr. Council Chamber located in Atlanta City Hall, 55 Trinity Ave. SW, Atlanta, GA 30303. The dates are as follows:

  • Friday, February 7, 2025, at 10:00 a.m.
  • Wednesday, February 12, 2025, at 12:00 p.m. and again at 6:00 p.m.

Residents looking for more information on the exemption and the upcoming hearings can visit the city’s official website at www.atlantaga.gov. This site offers thorough information on municipal projects including property tax policies.

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Atlanta’s decision to reject Georgia’s statewide homestead exemption emphasizes the city’s commitment to managing its financial policies with an eye on its specific circumstances and needs, therefore guaranteeing that solutions are both efficient and fair for its local residents.

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